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Predictability of asset returns and the efficient market hypothesis
Pesaran, M. Hashem - 2010
inefficiencies (assuming that they exist) can be exploited for profit. -- Market efficiency ; predictability ; heterogeneity of …
Persistent link: https://www.econbiz.de/10003985756
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Trading while sleepy? : circadian mismatch and excess volatility in a global experimental asset market
Dickinson, David L.; Chaudhuri, Ananish; … - 2017
Traders in global markets operate at different local times-of-day. Suboptimal times-of-day may produce sleepiness due to daily variations in sleep/wake patterns and possibly also increased accumulation of hours awake. Global asset markets imply significantly increased heterogeneity in circadian...
Persistent link: https://www.econbiz.de/10011731909
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Self-confidence and reactions to subjective performance evaluations
Bellemare, Charles; Sebald, Alexander - 2019
Subjective performance evaluations are commonly used to provide feedback and incentives to workers. However, such evaluations can generate significant disagreements and conflicts, the severity of which may be driven by many factors. In this paper we show that a workers' level of self-confidence...
Persistent link: https://www.econbiz.de/10011992961
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Reconciling the divergence in aggregate US wage series
Champagne, Julien; Kurmann, André; Stewart, Jay Charles - 2016
divergence in growth and volatility. The results have important implications for the appropriate choice of aggregate wage series …
Persistent link: https://www.econbiz.de/10011452713
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Implementing the panel event study
Clarke, Damian; Tapia Schythe, Kathya - 2020
Many studies estimate the impact of exposure to some quasi-experimental policy or event using a panel event study design. These models, as a generalized extension of 'difference-in-differences' or two-way fixed effect models, allow for dynamic lags and leads to the event of interest to be...
Persistent link: https://www.econbiz.de/10012256137
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When the market drives you crazy : stock market returns and fatal car accidents
Guilietti, Corrado; Tonin, Mirco; Vlassopoulos, Michael - 2018
The stock market influences some of the most fundamental economic decisions of investors, such as consumption, saving, and labor supply, through the financial wealth channel. This paper provides evidence that daily fluctuations in the stock market have important - and hitherto neglected -...
Persistent link: https://www.econbiz.de/10011893801
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Measurement error in subjective expectations and the empirical content of economic models
Drerup, Tilman; Enke, Benjamin; Gaudecker, Hans-Martin von - 2014
While stock market expectations are among the most important primitives of portfolio choice models, their measurement has proved challenging for some respondents. We argue that the magnitude of measurement error in subjective expectations can be used as an indicator of the degree to which...
Persistent link: https://www.econbiz.de/10010414230
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Worker self-selection and the profits from cooperation
Kosfeld, Michael (contributor);  … - 2008
different firms and firms employing cooperative workers make strictly positive profits. Profit differences across firms persist …
Persistent link: https://www.econbiz.de/10003784391
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Using firm optimization to evaluate and estimate returns to scale
Gorodnichenko, Yuriy (contributor) - 2008
often inconsistent with profit maximization or imply implausibly large profits. The puzzle arises because popular estimators … the restrictions imposed by profit maximization (cost minimization) so that estimators are inconsistent or poorly … rather than production functions and demonstrates that the profit share in revenue is a robust non-parametric economic …
Persistent link: https://www.econbiz.de/10003656928
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The price of capital, factor substitutability, and corporate profits
Hergovich, Philipp; Merz, Monika - 2018
capital-to-labor ratio and the level and volatility of corporate profits to rise, but only increased factor substitutability …
Persistent link: https://www.econbiz.de/10011906166